3/391 Church Street, Richmond VIC 3121

| Art Deco landmark | only unit with skyline views | loft bedroom with Velux skylights | boutique block of four | steps from Swan Street dining | This property occupies a genuinely rare position within a landmark 1934 Art Deco block, being the only unit that captures uninterrupted panoramic views over Melbourne’s sporting precinct and skyline. The multi-level configuration, with a loft-style main bedroom opening to those views via double-glazed Velux skylights, is not a standard apartment layout and will appeal strongly to buyers seeking character, space, and a sense of separation from street level. The boutique block of just four apartments limits supply and tends to attract owner-occupiers rather than investors, which supports long-term care of common areas and building culture. The recent sale of unit 4 at $515,000 in October 2024 provides a solid recent comparable, and the price guide of $600,000–$650,000 reflects a premium for the superior views and loft configuration, not an overreach. This property best suits a professional couple or single buyer who values architectural heritage, a walkable urban lifestyle, and a home that feels distinct from standard apartment stock. The primary risk is the absence of dedicated parking in a suburb where on-street parking is competitive, particularly on event days at the nearby MCG. Buyers should factor in the cost and inconvenience of securing a separate parking arrangement if a car is essential. The ground-floor space is listed as a potential second bedroom, but its openness to the living area and lack of a separate entry mean it functions best as a second living area or study rather than a true bedroom. This limits the property’s appeal to families or sharers. The building’s age means buyers should budget for potential special levies for common property maintenance, though the small block size keeps such costs manageable. The opportunity lies in the view and the loft bedroom, which are genuinely scarce in this price bracket and location. A buyer should hold this property as a long-term home, not a short-term flip, and treat the parking constraint as a lifestyle trade-off rather than a deal-breaker.